Cargo Homeshop recruits Tague as chief executive

Former Allders and Bhs managing director Stephen Tague will take the helm of furniture and homewares chain Cargo Homeshop on Monday.

Tague left Allders in February, when Terry Green took the department store group private. He will join Cargo as chief executive. Acting chief executive Bob Thomson will revert to the role of senior director of operations.

Tague said it was too early to comment on operational matters, but said he would be reviewing the business.

He added: 'It is a very exciting opportunity and I am looking forward to working with the team.'

Tague has considerable homewares experience and, prior to joining Allders in July 2001, spent eight years at Bhs - three as managing director.

A spokeswoman for Cargo said: 'We are very excited to be bringing someone of his experience to the company.'

The 36-store chain has a 'contemporary lifestyle' offer, positioned in the low- to middle-market, which is under increasing cost pressure from the grocers and multiples, such as Argos, Woolworths and Ikea.

Verdict analyst Steve Gotham said: 'We see homewares as the most cross-fertilised sector in the UK. There are a lot of different players adding homewares to their core offer and nibbling away at the specialists' market.'

Cargo (JW Carpenter) has been in administration twice, most recently in July 2000, when it closed 20 stores.

It negotiated a company voluntary arrangement with creditors the following January.